NervGen Pharma Grants Stock Options

Rhea-AI Summary

NervGen Pharma Corp. (TSXV: NGEN) (OTCQB: NGENF), a clinical stage biotech company focused on treating nervous system damage, has granted stock options to employees and consultants. The company issued 30,000 options to employees, exercisable at $2.98 per share for 10 years, vesting equally every six months over two years. Additionally, 15,000 options were granted to existing consultants providing investor relations services, exercisable at the same price for five years, vesting equally every three months over one year. These options comply with TSX Venture Exchange policies and the company's stock option plan.

Positive

• Incentivizing employees and consultants with stock options may improve retention and align interests with shareholders
• Gradual vesting schedule over 1-2 years encourages long-term commitment

Negative

• Potential dilution of existing shareholders' ownership
• Increased share-based compensation expense may impact financial results

Vancouver, British Columbia--(Newsfile Corp. - August 2, 2024) - NervGen Pharma Corp. (TSXV: NGEN) (OTCQB: NGENF) a clinical stage biotech company dedicated to developing innovative solutions for the treatment of nervous system damage, announced that the company has granted 30,000 incentive stock options to employees of the company and 15,000 incentive stock options to existing consultants providing investor relations services exercisable at a price of $2.98 per share. The employee options are exercisable for a period of 10 years and vest equally every six months over a two-year period. The consultant options are exercisable for a period of five years and vest equally every three months over a one-year period. All options have been granted in accordance with the policies of the TSX Venture Exchange and the conditions of the company's stock option plan.

About NervGen

NervGen is a clinical-stage biotech company dedicated to developing innovative treatments to enable nervous system repair in the settings of traumatic injury and disease. NervGen's lead drug candidate, NVG-291, is being evaluated in a Phase 1b/2a clinical trial in the company's initial target indication, spinal cord injury. The company has initiated preclinical evaluation of a new development candidate, NVG-300, in models of ischemic stroke, amyotrophic lateral sclerosis (ALS) and spinal cord injury. For more information, visit www.nervgen.com and follow NervGen on X, LinkedIn, and Facebook for the latest news on the company.

Contacts

Huitt Tracey, Corporate Communications
htracey@nervgen.com
604.537.2094

Bill Adams, Chief Financial Officer
info@nervgen.com
778.731.1711

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218738

FAQ

How many stock options did NervGen Pharma (NGENF) grant to employees?

NervGen Pharma granted 30,000 incentive stock options to employees.

What is the exercise price of the stock options granted by NervGen Pharma (NGENF) on August 2, 2024?

The exercise price of the stock options granted is $2.98 per share.

What is the vesting schedule for the employee stock options granted by NervGen Pharma (NGENF)?

The employee stock options vest equally every six months over a two-year period.

How many stock options did NervGen Pharma (NGENF) grant to consultants?

NervGen Pharma granted 15,000 incentive stock options to existing consultants providing investor relations services.